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Commercial Property for sale

Investment Site, Drapers Lane, Leominster, Leominster, HR6

Sold STC £325,000

Property Description

Key features

  • Large Investment/Redevelopment Property
  • Set In Prime Central Market Town Location
  • Comprising 3 Ground Floor Shop Premises
  • Extensive Additional Accommodation Above
  • Plus Historic Barn Building To The Rear
  • Historic Planning Permission Granted For Conversion

Full description

Investment/Redevelopment Property in a prime central location in the market town of Leominster. Comprising 3 Ground Floor Shop Premises, extensive additional accommodation above and an additional Historic Barn Building to the rear. Historic Planning Permission granted for conversion.

Full Particulars - Leominster is an attractive border market town with a resident population of approximately 11,000 and a catchment population of approximately 40,000, serving a wide local community and offering an interesting range of shopping, recreational and educational facilities.

The town is currently benefitting from expansion of the Industrial Estate/High Tech Business Park, planned new Supermarket investment and its existing developments at the historic Grange Court. It is also scheduled for considerable future housing development in forward planning terms.

This substantial Investment and Redevelopment Block is situated in the very heart of the market town, on the corner of Corn Square which runs into Drapers Lane.

The premises comprise of 3 Shops:
No. 1 Corn Square let to Leominster Tourist Board.
No. 27 Drapers Lane is let as a Clothing Store and
No.25 Drapers Lane is let as a Hardware Store.
Currently producing an annual rental income of £28,479.96.
Extensive space extends above and to the rear of these shops, known as Blenheim and upper areas of 25 Drapers Lane. There is also an historic Barn Building to the rear.

Planning Permission - Planning permission was obtained in 2006 and refreshed in 2009 (expiring in 2012). This Planning Permission was for a conversion of three 2-Bedroomed Flats and one 1-Bedroomed Flat and a Studio Flat above Blenheim (5 Flats in total), two further 2-Bedroomed Flats above 25 Drapers Lane and three 1-Bedroomed Cottages in the Barn to the rear, to give a total of 10 Units. There is opportunity to re-apply for this permission or a variation on the same.

Agents Note - 1. The property lies within a Conservation Area and part is Listed.
2. There is a Cellar under 27 and No. 1 Corn Square which is accessed via a trap door in the floor of the Clothing Shop at 27 Drapers Lane.

Local Authority - The Herefordshire Council - 01432 260000

Viewing - Strictly by appointment through the Agents, Jackson Property. Tel: 01568 610600

18 February 2016.

Jackson International - for themselves and the vendors of the property, whose agents they are, give notice that these particulars, although believed to be correct, do not constitute any part of an offer of contract, that all statements contained in these particulars as to this property are made without responsibility and are not to be relied upon as statements or representations of fact and that they do not make or give any representation or warranty whatsoever in relation to this property. An intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. The agent has not tested any apparatus, equipment, fixture, fittings or services and so cannot verify that they are in working order, or fit for their purpose, neither has the agent checked legal documents to verify the freehold/leasehold status of the property. The buyer is advised to obtain verification from their solicitor or surveyor.

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